Homeowners are now hunkering down and weathering the recession. While the trend may once have been to simply upgrade and move into a bigger home when quarters tightened, upscale customers are choosing to make substantial improvements to their current homes in the hopes that the home will not only he cherished by their family but a home that could be passed down to future generations.
When asked to list current trends in the luxury housing and remodeling market Erika Heet, the publisher of The Robb Report Collection noted this recent trend. She remarked that during a downturn, people start thinking more long-term about their investments. She says. "We've heard homeowners talking about setting up homes for themselves and their children and extended family so more people can enjoy what they have worked so hard for." Instead of simply moving on when a family grows larger. upscale clients are nesting and improving their homes for their family and future generations to enjoy. Heet says, "They are not thinking of the house as an investment to sell, hut as more of an emotional buy in wanting to pass it down to the next generations."
As Heet notes, the days of abandoning a home in favor of more space may be long gone. With the new environmental movement hot on the lips and minds, it's no wonder that the idea of heirloom homes has caught on in a big way with upscale clients. Occupying and maintaining a home longer means that there are fewer wasted resources (including monetary reserves) spent on moving and restructuring a home, allowing homeowners to enjoy not only a more efficient, but also a more stable way of life.
Generally ahead of the housing and remodeling industry trends, the luxury housing market's interest in heirloom homes could point to a greater demand for the professional remodeler's services in the years to come as this trend catches wind with customers working with smaller budgets. Should this happen, greater demand for homes that stand the test of time will mean the creation of more open family gathering spaces, kitchens with counter space for more than two, closets remodeled, and offices and spare rooms that are converted to main level master suites to accommodate clients who want to age in place.
Skills in quality woodworking, masonry, stone working, and kitchen remodeling could be especially prized. Crafting an heirloom home will require a remodeler that has an exacting attention to detail, an eye for styles and products that can weather time, and an appreciation for the home and the life the client has created and wants to improve. Well-honed skills in customer communication will also be mandatory to insure that what the client has requested is what is actually accomplished in the finished product.
"WE'VE HEARD HOMEOWNERS TALKING ABOUT SETTING UP HOMES FOR THEMSELVES AND THEIR CHILDREN AND EXTENDED FAMILY SO MORE PEOPLE CAN ENJOY WHAT THEY HAVE WORKED SO HARD FOR."
Adding these personal touches and improvements will not only increase the dollar value of a home, but will create a space that is unique to the homeowner and their family -- a place where memories will be made and shared for years.
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